Square Yards launches ‘mortgage option’ for brokers to provide loans to their customers at best rates

Square Yards, one of the leading tech-driven real estate advisories, has been pulling out all the big guns since the inception of the “Square Connect Mobile App” in 2016, which eventually went on to pioneer as India’s first mobile aggregation platform for beginning real estate.

Within a short period time, “the Square Connect App has transformed into a powerful tool that grants access to a vast portfolio of top-rated projects, free leads as well as marketing insights, to a cosmic string of real estate brokers and financial institutions.”

In a bid to improve the purchasing power of the users and streamline innovation, Square Yards is introducing the mortgage option on its ‘Square Connect Mobile App’ through which brokers will be able to offer home loans to their customers at best rates chosen from a designated group of 90 partner banks and NBFCs, and at the same time, earn supplementary income.

Which will provide a significant boost to Square Capital, the mortgage digital lending arm of Square Yards, and accelerate the rate of progress to more than the current pace of Rs. 300 crores of monthly disbursements.

The brokers could secure suitable rates for their clients by running a user-friendly algorithm designed by Square Yard, simplifying the intricate process of valuation and tedious documentation by banks that goes into such decision-making.

The software solutions at Square Capital will also monitor and determine an applicant’s eligibility linked to various banks’ credit policies, ability to execute an e-KYC and through direct integration with banks’ loan original foundation.

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“The new option of a mortgage added on the Square Connect App will help the channel partners in providing more touchpoints to their clients in the property buying process and consequently generating high income for themselves.

The banks and NBFCs associated with us will also be able to get business from newer geographies as our channel partners are spread far and wide in the country,” said Tanuj Shori, Co-Founder and CEO, Square Yards.

A little over two years ago, Square Yards decided to venture into fintech industry with the launch of their digital mortgage arm known as “Square Capital” to become the most extensive online to offline (O2O) loan aggregator in the country.

The company has been scaling up their business through the use of state-of-the-art technology and has a number of innovations to integrate and develop a mutually beneficial value chain for customers and financial institutions in​ the home loan market.

Forbes which has also quoted Square Capital “one of the fastest growing fintech plays in India” in its reports. With an official network of more than 90 banks and NBFCs that are continually growing.

The Square Connect division started in 2016, as an exclusive mobile app-based aggregation platform that brought together real estate brokers, independent financial agents, and small stockbroking firms, so they may tap a vast range of Grade-A properties across India and the globe and gain access to top deals from such developers.

Square Connect has been known to be generous with offering advantages to its partner agents, to enable them to earn higher commissions and facilitate channels to sell better and more compellingly.

The Square Connect division accounts for 15-20 percent of the real estate business of Square Yards; and with new innovative services coming up, much like the mortgage option, one can anticipate that Square Yard will be giving its competitors a severe run for their money in the future.